7 Amenity Habits That Improve Community Health for Life

We’re all familiar with it. At some point in our childhood, a seemingly overbearing adult told us to finish our greens. Or not to eat that piece of candy. If you’ve graduated to parenthood, then you’re familiar with the opposite side of that transaction. Why is it so hard to drop bad habits and acquire better ones when the long-term benefit is so great?
Well, of course, the clue is in the question. The cost of the small infraction of good dietary behavior is – well – small, while the long-term benefit of a healthy metabolism can seem intangible. The same logic applies to one of our revenue management issues du jour, unit amenities.
As goes weight, so go unit amenities
Just like our weight, unit amenities should be neither too low nor too high. When amenity values are too low, we’re likely leaving rent on the table. When they’re too high, then we’re not leaving as much rent for the revenue management system (RMS) to manage. At best, it puts an extra burden on us to continually manually monitor and adjust amenity pricing; at worst, it minimizes the speed with which the RMS can raise or lower rents and actually hurts revenue performance.
Taking this analogy a step further (as I can tell you want me to) is equally instructive. Much as childhood eating habits set us up for nutritional success as adults, the initial amenity setup for a lease-up profoundly affects the success of a community’s amenity performance over its lifetime.
We can collectively ……